The current PE ratio for Black Hills stock as of Nov 5, 2025 is 16.27. This is calculated based on the current EPS of $3.98 and the stock price of $64.75 per share. The P/E ratio has grown by 7% from the past four quarters average of 15.2.
BKH PE ratio history
The average historical PE ratio of Black Hills for the last ten years is 26.13. The current PE ratio of 16.27 is 38% below the historical average. Over the past ten years, BKH's PE ratio was at its highest in the Jun 2016 quarter at 242.46, when the stock price was $63.04 and the EPS was $0.26. The lowest value was in the Mar 2018 quarter, when it reached 12.4 with a price of $54.3 and an EPS of $4.38.
Black Hills PE ratio by year
Maximum annual increase: 80.56% in 2019
Maximum annual decrease: -58.51% in 2017
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| 2024 | 14.97 | 8.48% | $58.52 | $3.91 |
| 2023 | 13.8 | -21.9% | $53.95 | $3.91 |
| 2022 | 17.67 | -6.36% | $70.34 | $3.98 |
| 2021 | 18.87 | 12.05% | $70.57 | $3.74 |
| 2020 | 16.84 | -29.45% | $61.45 | $3.65 |
| 2019 | 23.87 | 80.56% | $78.54 | $3.29 |
| 2018 | 13.22 | -26.76% | $62.78 | $4.75 |
| 2017 | 18.05 | -58.51% | $60.11 | $3.33 |
| 2016 | 43.5 | N/A | $61.34 | $1.41 |
| 2015 | N/A | N/A | $46.43 | -$0.71 |
| 2014 | 17.98 | -8.92% | $53.04 | $2.95 |
| 2013 | 19.74 | 27.11% | $52.51 | $2.66 |
| 2012 | 15.53 | -42.18% | $36.34 | $2.34 |
| 2011 | 26.86 | 57.54% | $33.58 | $1.25 |
| 2010 | 17.05 | 35.1% | $30 | $1.76 |
Black Hills PE ratio by quarter (TTM)
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| Jun 2025 | 14.1 | -8.62% | $56.1 | $3.98 |
| Mar 2025 | 15.43 | 3.07% | $60.65 | $3.93 |
| Dec 2024 | 14.97 | -8.66% | $58.52 | $3.91 |
| Sep 2024 | 16.39 | 22.04% | $61.12 | $3.73 |
| Jun 2024 | 13.43 | 0.07% | $54.38 | $4.05 |
| Mar 2024 | 13.42 | -2.75% | $54.6 | $4.07 |
| Dec 2023 | 13.8 | 5.26% | $53.95 | $3.91 |
| Sep 2023 | 13.11 | -18.87% | $50.59 | $3.86 |
| Jun 2023 | 16.16 | -0.12% | $60.26 | $3.73 |
| Mar 2023 | 16.18 | -8.43% | $63.1 | $3.9 |
| Dec 2022 | 17.67 | 4.12% | $70.34 | $3.98 |
| Sep 2022 | 16.97 | -3.19% | $67.73 | $3.99 |
| Jun 2022 | 17.53 | -8.27% | $72.77 | $4.15 |
| Mar 2022 | 19.11 | 1.27% | $77.02 | $4.03 |
| Dec 2021 | 18.87 | 16.63% | $70.57 | $3.74 |
BKH Price vs fair value
BKH average PE ratio chart
BKH's current P/E ratio is above the 3 and 5-year historical averages, but it is below the 10-year average.
PE comparison
Black Hills's P/E of 16.27 is below the Utilities sector, the industry and its peers average. Compared to its Utilities sector average of 20.94, Black Hills's P/E is 22% lower.
BKH PE vs peers
Compared to its peer stocks DUK and XEL, BKH's PE ratio stands lower. Black Hills is presently trading at a lower PE ratio (16.27) than its peer group average of 20.42.
| Stock name | PE ratio | Market cap |
|---|---|---|
| EXC Exelon Corp | 16.56 | $46.86B |
| BKH Black Hills Corp | 16.84 | $4.88B |
| NWE Northwestern Corp | 17.84 | $3.88B |
| AVA Avista Corp | 18.21 | $3.29B |
| MDU Mdu Resources Group Inc | 19.06 | $4.13B |
| DUK Duke Energy CORP | 20.25 | $96.83B |
| LNT Alliant Energy Corp | 20.75 | $17.28B |
| CMS Cms Energy Corp | 20.92 | $28.36B |
| AEE Ameren Corp | 22.72 | $28.08B |
| XEL Xcel Energy Inc | 24.74 | $48.15B |
| CNP Centerpoint Energy Inc | 24.92 | $25.71B |
Frequently asked questions
What is Black Hills's PE ratio?
BKH's price to earnings ratio is 16.27 as of Nov 5, 2025.
What is the 3-year average PE ratio for Black Hills (BKH)?
As an average over the last 3 years, BKH stock has a PE ratio of 14.97.
What is the 5-year average PE ratio for Black Hills (BKH)?
As an average over the last 5 years, BKH stock has a PE ratio of 16.09.
What is the highest PE ratio for BKH?
In the last ten years, the Jun 2016 quarter recorded the highest quarterly PE ratio at 242.46.
How does the current PE ratio for BKH compare to its historical average?
The current price to earnings ratio of BKH is 38% lower than the 10-year historical average.
How is BKH's PE ratio calculated (Black Hills PE ratio formula)?
To determine the PE ratio, divide the most recent stock price by the TTM earnings per share (EPS). As of today (Nov 5, 2025), Black Hills's stock price is $64.75. The earnings per share for the trailing twelve months (TTM) ending Jun 2025 is $3.98. Therefore, Black Hills's P/E ratio for today is 16.27. PE RATIO(16.27) = STOCK PRICE($64.75) / TTM EPS($3.98)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.